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Retirement Plans | 3 Months Ended
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Mar. 31, 2013
Retirement Plans [Abstract] |
Retirement Plans | Note 12 – Retirement Plans LCNB participates in a noncontributory defined benefit retirement multi-employer plan that covers substantially all regular full-time employees hired before January 1, 2009. Employees of LCNB also participate in a defined contribution retirement plan. Employees hired on or after January 1, 2009 receive a 50% employer match on their contributions into the 401(k) plan, up to a maximum LCNB contribution of 3% of each individual employee's annual compensation. Employees hired before January 1, 2009 who received a benefit reduction under certain amendments to the defined benefit retirement plan receive an automatic contribution of 5% or 7% of annual compensation, depending on the sum of an employee's age and vesting service, into the 401(k) plan, regardless of the contributions made by the employees. This contribution is made annually and these employees do not receive any employer matches to their 401(k) contributions. Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to salaries and employee benefits in the consolidated statements of income for the three-month periods ended March 31, 2013 and 2012 are as follows (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2013 |  |  | 2012 |
Qualified noncontributory defined benefit retirement plan |  | $ | 31 |  |  |  | 142 |
401(k) plan |  |  | 79 |  |  |  | 36 |
Certain highly compensated employees participate in a nonqualified defined benefit retirement plan. The nonqualified plan ensures that participants receive the full amount of benefits to which they would have been entitled under the noncontributory defined benefit retirement plan in the absence of limits on benefit levels imposed by certain sections of the Internal Revenue Code. The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the three months ended March 31, 2013 and 2012 are summarized as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2013 |  |  | 2012 |
Service cost |  | $ | 18 |  |  |  | 22 |
Interest cost |  |  | 11 |  |  |  | 11 |
Amortization of unrecognized net (gain)/loss |  |  | 6 |  |  |  | 5 |
Amortization of unrecognized prior service cost |  |  | 7 |  |  |  | 7 |
Net periodic pension cost |  | $ | 42 |  |  |  | 45 |
Amounts recognized in accumulated other comprehensive income, net of deferred federal income taxes, at March 31, 2013 and December 31, 2012 for the nonqualified defined benefit retirement plan consists of (in thousands):
| March 31, |  | December 31, |
| 2013 |  | 2012 |
Net actuarial loss |  | $ | 121 |  |  |  | 125 |
Past service cost |  |  | 24 |  |  |  | 29 |
|  | $ | 145 |  |  |  | 154 |
Citizens National Bank had a qualified noncontributory defined benefit pension plan which covered employees hired before May 1, 2005. LCNB assumed this plan at the time of the merger.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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- Details
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